Earth Equity News

Senator Feinstein Seeks to Reduce Ethanol Tax Credit. Reuters, 12/13/10. “Senator Dianne Feinstein on Monday sought to add an amendment to a massive tax bill with a measure that would cut the ethanol tax credit and import tariff to 36 cents a gallon each -- a huge cut in biofuels support rates. The current U.S. ethanol tax credit of 45 cents and the import tariff of 54 cents would be extended through 2011 under the tax bill. They will expire on December 31 unless the House and Senate agree to renew them.” Senate Approves Biofuel and Clean Tech Tax Break. Business Green, 12/16/10. “The US renewable energy and biofuel industries were celebrating yesterday after the Senate overwhelming approved plans to extend crucial green tax breaks and grant programs.”